Norges Bank Takes Position in Sealed Air Co. (NYSE:SEE)

Norges Bank bought a new position in shares of Sealed Air Co. (NYSE:SEE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,494,596 shares of the industrial products company's stock, valued at approximately $50,562,000. Norges Bank owned about 1.03% of Sealed Air as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Cerity Partners LLC lifted its position in shares of Sealed Air by 49.2% in the third quarter. Cerity Partners LLC now owns 21,250 shares of the industrial products company's stock worth $771,000 after buying an additional 7,003 shares in the last quarter. FMR LLC grew its holdings in shares of Sealed Air by 28.0% in the third quarter. FMR LLC now owns 626,348 shares of the industrial products company's stock valued at $22,736,000 after purchasing an additional 137,073 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Sealed Air by 8.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,089 shares of the industrial products company's stock valued at $1,165,000 after purchasing an additional 2,558 shares in the last quarter. Captrust Financial Advisors increased its position in Sealed Air by 21.1% in the third quarter. Captrust Financial Advisors now owns 19,557 shares of the industrial products company's stock worth $710,000 after purchasing an additional 3,411 shares during the last quarter. Finally, Quarry LP raised its stake in Sealed Air by 9.2% during the third quarter. Quarry LP now owns 3,701 shares of the industrial products company's stock valued at $134,000 after purchasing an additional 311 shares in the last quarter. 94.40% of the stock is currently owned by institutional investors.

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Insider Transactions at Sealed Air

In related news, Director Henry R. Keizer bought 1,120 shares of the stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the acquisition, the director now directly owns 35,000 shares in the company, valued at approximately $1,050,000. This represents a 3.31 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

SEE has been the topic of several analyst reports. UBS Group raised Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 price objective on the stock in a research note on Monday. Truist Financial increased their price target on Sealed Air from $41.00 to $44.00 and gave the company a "buy" rating in a report on Monday, January 6th. Citigroup dropped their price objective on shares of Sealed Air from $44.00 to $42.00 and set a "buy" rating for the company in a research note on Monday, January 6th. StockNews.com upgraded shares of Sealed Air from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. Finally, Morgan Stanley lowered their target price on shares of Sealed Air from $39.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday, January 13th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $40.25.

Sealed Air Trading Up 13.1 %

Shares of NYSE:SEE traded up $3.13 during trading on Wednesday, reaching $27.06. 4,331,449 shares of the company were exchanged, compared to its average volume of 1,523,048. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. The firm has a market capitalization of $3.94 billion, a PE ratio of 9.95 and a beta of 1.35. The business's fifty day simple moving average is $30.89 and its 200-day simple moving average is $33.83. Sealed Air Co. has a 12-month low of $22.78 and a 12-month high of $41.14.

Sealed Air (NYSE:SEE - Get Free Report) last issued its earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the company posted $0.88 EPS. Sealed Air's revenue was down .4% on a year-over-year basis. On average, research analysts anticipate that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Friday, March 14th. Sealed Air's dividend payout ratio (DPR) is 44.20%.

Sealed Air Company Profile

Sealed Air Corporation provides packaging solutions in the Americas, Europe, the Middle East, Africa, Asia, Australia, and New Zealand. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety, shelf life extension, reduce food waste, automate processes, and optimize total cost for food processors in the fresh red meat, smoked and processed meats, poultry, seafood, plant-based, fluids and liquids and cheese markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, LIQUIBOX, Simple Steps, and Optidure brands.